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Note 12 - Share-Based Compensation | 9 Months Ended
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Sep. 28, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 12. Share-Based Compensation Share-based compensation expense related to stock options for the three and nine months ended September 28, 2014 and September 29, 2013 were as follows (in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 28, 2014 |  |  | September 29, 2013 |  |  | September 28, 2014 |  |  | September 29, 2013 |
Total cost of share-based payment plans |  | $ | 67 |  |  | $ | 113 |  |  | $ | 210 |  |  | $ | 396 |
The Company uses the Black Scholes option pricing model to estimate the fair value and compensation cost associated with employee incentive stock options which requires the consideration of historical employee exercise behavior data and the use of a number of assumptions including volatility of the Company’s stock price, the weighted average risk-free interest rate and the weighted average expected life of the options. There were 3,000 and 11,000 options granted during the three and nine months ended September 28, 2014, respectively. The weighted-average grant-date fair value of the stock options issued during the three and nine months ended September 28, 2014 were $3.98 and $4.65, respectively. There were 3,000 and 224,750 options granted during the three and nine months ended September 29, 2013, respectively. The weighted-average grant-date fair value of the stock options issued during the three and nine months ended September 29, 2013 was $4.31 and $3.45, respectively. The following table summarizes Lakes’ stock option activity during the nine months ended September 28, 2014 and September 29, 2013:
|  | Number of Common Shares |  |  |  |  |
|  |  | Options Outstanding |  |  |  | Exercisable |  |  |  | Available for Grant |  |  |  | Weighted- Average Exercise Price |
2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 29, 2013 |  |  | 798,171 |  |  |  | 585,769 |  |  |  | 263,424 |  |  | $ | 5.97 |
Forfeited/cancelled/expired |  |  | (25,211 | ) |  |  |  |  |  |  | 24,211 |  |  |  | 5.19 |
Exercised |  |  | (28,343 | ) |  |  |  |  |  |  | — |  |  |  | 4.73 |
Granted |  |  | 11,000 |  |  |  |  |  |  |  | (11,000 | ) |  |  | 9.18 |
Balance at September 28, 2014 |  |  | 755,617 |  |  |  | 615,792 |  |  |  | 276,635 |  |  |  | 6.09 |
2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at December 30, 2012 |  |  | 764,034 |  |  |  | 649,412 |  |  |  | 437,797 |  |  | $ | 5.84 |
Forfeited/cancelled/expired |  |  | (51,502 | ) |  |  |  |  |  |  | 51,502 |  |  |  | 6.17 |
Exercised |  |  | (19,275 | ) |  |  |  |  |  |  | — |  |  |  | 6.54 |
Granted |  |  | 224,750 |  |  |  |  |  |  |  | (224,750 | ) |  |  | 6.16 |
Balance at September 29, 2013 |  |  | 918,007 |  |  |  | 626,771 |  |  |  | 264,549 |  |  |  | 5.88 |
As of September 28, 2014, the options outstanding had a weighted average remaining contractual life of 6.1 years, weighted average exercise price of $6.09 and aggregate intrinsic value of $1.8 million. The options exercisable have a weighted average exercise price of $6.00, a weighted average remaining contractual life of 5.5 years and aggregate intrinsic value of $1.5 million as of September 28, 2014. There were 500 and 28,343 options exercised during the three and nine months ended September 28, 2014, respectively and 19,275 options exercised during the three and nine months ended September 29, 2013. The total intrinsic value of options exercised during the three and nine months ended September 28, 2014 was less than $0.1 million and $0.1 million, respectively. Lakes’ unrecognized share-based compensation expense related to stock options was approximately $0.4 million as of September 28, 2014, which is expected to be recognized over a weighted-average period of 1.6 years. Lakes issues new shares of common stock upon the exercise of options.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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